Circle Internet Group (NYSE:CRCL) shares rose around 7% in pre-market trading after the stablecoin issuer reported second-quarter results in line with expectations, secured the first federal bank charter granted to a stablecoin company and raised parts of its full-year outlook.
The company also announced that BlackRock, Visa and Mastercard will serve as validators for its upcoming blockchain network
Earnings meet expectations as revenue grows Circle reported second-quarter earnings of $0.18 per share, matching the Wall Street consensus estimate. Total revenue and reserve income increased 7% year over year to $701 million. As no analyst consensus was available for this metric, no beat or miss comparison could be made.
Net income from continuing operations reached $48 million, representing a year-over-year improvement of $530 million, largely reflecting lower stock-based compensation expenses following the company’s initial public offering in the second quarter of 2025. Adjusted EBITDA rose 8% to $143 million, although the adjusted EBITDA margin narrowed by 329 basis points to 50% as Circle continued investing in new products and services. USDC growth supports reserve income Reserve income increased 5% from a year earlier to $668 million, supported by a 25% increase in the average amount of USDC in circulation.